$729,000

For sale

7772 Island 1810/Bone Island, Georgian Bay (Gibson) - Single Family for Sale

7772 Island 1810/Bone Island, Georgian Bay (Gibson), Ontario, P0E1E0

2 beds1 bath0 parking1,300 ft²1100 × 550 ft (13.88 acres) lot sizeListed 29 days ago

Overview

This 2-bedroom, 1-bathroom home in Georgian Bay is for sale offering roughly 1,300 sq ft of space. Listed at $729,000, it is attractively priced about 19% below the $899,000 median asking price in Georgian Bay. It has been on the market 29 days, fresher than the Georgian Bay average of 252 days.

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Description

Just 15 minutes by boat from Honey Harbour, and you'll arrive in this secluded bay on Bone Island in Georgian Bay. Featuring 1,100 feet of shoreline and 6.7 acres of granite and mature forest, the only other property in this inlet is part of Beausoleil Island National Park. The open concept chalet style cottage is constructed with large wooden beams for a warm feel. The main floor has a modern kitchen with butcher block countertops and stainless steel appliances, a living room with airtight woodstove, backed by a stone wall, 2 bedrooms and washroom. Upstairs, there's a large loft area which is currently used for additional sleeping as well as a separate sitting area, and a deck overlooking the bay. The main deck wraps around the cottage and offers serenity and expansive views. (id:66096)

Property Details

MLS®: X13866422
Property Type: Single Family
Zoning: SR-7, FH1
Bedrooms: 2
Beds (above / below): 2 above · 0 below
Bathrooms: 1
Parking: 0
Interior Size: 1,300 ft²
Lot Size: 1100 × 550 ft (13.88 acres)
Frontage: 1,100 ft
Storeys: 1
Basement: None
Heating: Wood, Other
Cooling: None
Garage: No Garage
Fireplace: Yes
Ownership: Freehold
Property Tax

Rooms

Main level

Living room: 4.62 x 6.45 meters
Dining room: 3.02 x 2.82 meters
Kitchen: 3.02 x 2.62 meters
Primary Bedroom: 3 x 3.33 meters
Bedroom: 3.05 x 3.33 meters
Bathroom: 2.44 x 1.83 meters

Second level

Loft: 7.65 x 8.89 meters

Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.

Features

Appliances: Water purifier, Water Heater
Foundation: Wood/Piers
Exterior: Wood
Lot Features: Wooded area, Irregular lot size, Rocky, Hilly

Services

Water: Lake/River Water Intake
Sewer: Septic System
Utilities: Electricity

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

29d

Georgian Bay (Gibson) listings, avg age

252d

Price / ft²

$561

List price

$729K

Homes here sell slower than most markets

Sold homes in this market spent an average of 71 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell below asking price

Homes in this market sold for an average of 92.7 percent of their asking price over the past year, below the 96.4 percent median across the markets we publish.

Haho

This 2-bed single family in Georgian Bay (Gibson) has been listed for 29 days, which is 223 days fresher than the city average of 252. Act while there is still low competition.

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Listed by Royal LePage In Touch Realty · MICHAEL BELSEY

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (P0E)

This home lists at $729,000, about 8.8× the local median household income of $83,000.

Carrying it typically needs a household income of about $142,399 (20% down, 25-yr amortization, stress-tested) — roughly 72% above the area median.

Median household income: $83,000
Population: 3,606
Median age: 54.4
Owner / renter: 94% / 6%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA P0E)

$729,000· $561/ft²

For sale

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Full Cost Breakdown

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Down Payment6.57% · $47,900

Min 6.57%50%

Mortgage payment$3,776/mo

↳ CMHC premium ($27,244 capitalized)

Property tax (est.)$324/mo

Total monthly$4,100

Cash Needed to Close

Down payment (6.57%)$47,900

Land transfer tax$11,055

Est. closing costs$4,687

Total cash needed$63,642

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